A. fixed in nature.
B. can change from year to year.
C. fixed once in 5 years.
D. none of these.
✅ The correct answer is option B.
Income Tax MCQs
The existing Maximum Marginal Rate of tax of an individual assessee is…………………….
A. 10%
B. 20%
C. 30%
D. 35%
✅ The correct answer is option C.
An Indian company’s residential status is that it is always…………………
A. resident.
B. non resident.
C. ordinarily resident.
D. none of these.
✅ The correct answer is option A.
The income tax rate on long term capital gains for an individual is ……………………………
A. 10%
B. 15%
C. 20%
D. 25%
✅ The correct answer is option C.
Tax Holiday is.
A. income tax on holiday income.
B. cancellation of tax for the entire country.
C. tax exemption for a specified peri
D.
✅ The correct answer is option C.
In case of residential status of HUF ,firm and AOP if control and management are wholly outside India they are deemed as………………
A. resident.
B. ordinarily resident.
C. non resident
D. none of these.
✅ The correct answer is option C.
Residential status of an assessee is ascertained as per the provisions of……………………
A. sec. 6.
B. s
C. 7. c. sec. 9.
D. sec. 11.
✅ The correct answer is option A.
Income of political parties is not to be included in total income if certain conditions are satisfied. The relevant section of IT Act 1961 is.
A. section 13a .
B. s
C. 1
D.
✅ The correct answer is option A.
Due date of filing of return by a non business assessee is……………….
A. 30th june.
B. 31st august.
C. 31st july.
D. 30th november.
✅ The correct answer is option C.
The rate of depreciation on intangible asset is ………………….
A. 5%
B. 15%
C. 20%
D. 25%
✅ The correct answer is option D.